Hilton International Ltd. is inviting bids for a controlling 59.42% stake in International Hotels (Kenya) Ltd.
Hilton International Ltd. owns the iconic Hilton Hotel, a prominent landmark in Nairobi’s central business district.
This development follows the hotel’s closure in December 2022 due to economic challenges. Hilton Hotel is owned 40.57 per cent by the government and 59.4 per cent by the Hilton Group of Hotels.
2. Hilton International is opening the doors for expressions of interest to acquire a 59.42% share in International Hotels (Kenya) Ltd. pic.twitter.com/8v43aLxvpc
— Mwango Capital (@MwangoCapital) April 16, 2024
This move coincides with a broader shakeup in Kenya’s hospitality sector. The Kenyan government, through its Privatization Authority, is also seeking buyers for its stake in several state-owned hotels, including:
Kenya Hotel Properties Limited (KHPL), previously managed by the Intercontinental Hotel Group, located near the National Parliament building in Nairobi’s central business district.
The government is offering a 33.83% stake in KHPL.
In addition, the government is inviting bids for its respective shares in KWA Holdings (E.A) Limited (KHEAL) and Kenya Wine Agencies Limited (KWAL), which are 43.77% in KHEAL and 0.1% in KWAL.
Interested parties acquiring either Hilton’s stake or the government’s holdings have until 7 May 2024 and 18 April 2024, respectively, to submit their expressions of interest.
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